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Apr 12, 2013
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we'll ask him about jc penney, as well. also steve liesman talking with boston fed president eric rosengren, when will it be the time to wind down qe3. keep it here. post 9. all stations come over to mission a for a final go. this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. at a hertz expressrent kiosk, you can rent a car without a reservation... and without a line. now that's a fast car. it's just another way you'll be traveling at the speed of hertz. [ laughter ] ♪ [ female announcer ] each one of us is our own boss. ♪ and no matter where you are in life, ask your financial professional how lincoln financial can help you take charge of your future. ♪ i'm up next, but now i'm singing the heartburn blues. hold on, prilosec isn't for fast relief. cue up alka-seltzer. it stops h
we'll ask him about jc penney, as well. also steve liesman talking with boston fed president eric rosengren, when will it be the time to wind down qe3. keep it here. post 9. all stations come over to mission a for a final go. this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond...
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Apr 9, 2013
04/13
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ron johnson is out as jc penney ceo. and they are bringing their former boss back to the helm. >> but are investors sold? >> plus, a live conversation with st. louis fed president james bollard. a news making interview you can't afford to miss as the final hour of "squawk box" begins right now. >>> welcome back to "squawk box", everybody, on cnbc. andrew is on vacation this week. our guest host henry blogett. editor-in-chi editor-in-chief. yesterday the markets were higher. dow futures up 23 points. s&p up by just over 3.5 points. overseas in asia, japan was flat this time around overnight. nikkei ended flat for the day. cac is up by half a percent as is the ftse in london. our top story, tracking what's happening at jc penney. >> can he get it back where where he was before he was dismissed. that would be huge. ron johnson ousted. >> for some reason i thought there was a reason he left in the first place because they wanted to do better. he had gotten the company to a point -- >> when jc penney was in huge trouble they
ron johnson is out as jc penney ceo. and they are bringing their former boss back to the helm. >> but are investors sold? >> plus, a live conversation with st. louis fed president james bollard. a news making interview you can't afford to miss as the final hour of "squawk box" begins right now. >>> welcome back to "squawk box", everybody, on cnbc. andrew is on vacation this week. our guest host henry blogett. editor-in-chi editor-in-chief. yesterday the...
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Apr 3, 2013
04/13
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part of jc penney looks good and part of it looks like the old jc penney. >> it seems to me, they have to reset the near term metrics. how patient will investors be, i think that's a function of whether they're able to achieve what they communicate as their goals along the way. and clearly to your point, becky, they didn't do that in this first period. what are the expectations they're going to give to the market. whether it's on a store year-over-year, or what they want to have the market focus on. and they have to hit those over the next quarters to have the patient investor, patient capital for four plus year period. >> is there anything you think ron johnson can do to buy time, christy? >> well, i would think the most valuable thing is what we're just talking about. what is the narrative? and what are the metrics that fit the narrative? and does the market accept that? and i'm not close enough to the store to know what those should be. but clearly 20/20, hindsight to your point, courtney, how do we recalibrate based on that? >> and jc penney has pulled a lot of their expectations,
part of jc penney looks good and part of it looks like the old jc penney. >> it seems to me, they have to reset the near term metrics. how patient will investors be, i think that's a function of whether they're able to achieve what they communicate as their goals along the way. and clearly to your point, becky, they didn't do that in this first period. what are the expectations they're going to give to the market. whether it's on a store year-over-year, or what they want to have the...
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Apr 12, 2013
04/13
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three more high level executives are "out the door" at jc penney. reuters reports similar to ron johnson who exited jcp this week, the latest three execs to leave also previously worked at apple. jcp penney shares tumbled earlier this week.. but have been a on the rebound since johnson's departure. casino developers are taking a gamble on regional locations. gambling destinations located "outside" of major cities are becoming popular.real estate titan david cordish, of cordish companies just opened "maryland live", a luxury casino half way between baltimore and dc.he says local casinos are gaining popularity, as las vegas and atlantic city are losing luster. "i think what you have to look at when you're doing a financial analysis is breakdown the united states casinos by destination resorts which is atlantic city las vegas and mississippi. there they have casino after casino just next to each other - and people have to get on an airplane, they have to stay in a hotel, and those destinations like atlantic city are hurting badly." in march, revenue at
three more high level executives are "out the door" at jc penney. reuters reports similar to ron johnson who exited jcp this week, the latest three execs to leave also previously worked at apple. jcp penney shares tumbled earlier this week.. but have been a on the rebound since johnson's departure. casino developers are taking a gamble on regional locations. gambling destinations located "outside" of major cities are becoming popular.real estate titan david cordish, of...
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Apr 11, 2013
04/13
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there will be no golden parachute to rescue former jc penney ceo ron johnson. johnson, who came from apple, was dismissed this week from jcp due to poor performance. johnson had a deal with penney to be paid mostly in stock when he became ceo in 2011. he owns 900,000 shares of penney stock.. but it only has value if penney stock climbs above $29 dollars. the stock closed last at $14. hedge fund manager bill ackman who has a major stake in jcp gave the stock a bit of a lift yesterday when he told reporters he's standing by the retailer. investors rolled out the welcome mat for taylor morrison this week. shares of the homebuilder opened up 6.1% yesterday, from its ipo price of 22 dollars and closed at $23.04. the return of the housing market has sparked an interest in home building stocks. also new to the market this week, shuttle tank operator knot offshore partners. that stock rallied nearly 4% on its opening day. chimerix, kye-mare-ix ipo-s today. the company is developing a drug for use in stem cell transplants. also expected pharmaceutical company omthera. p
there will be no golden parachute to rescue former jc penney ceo ron johnson. johnson, who came from apple, was dismissed this week from jcp due to poor performance. johnson had a deal with penney to be paid mostly in stock when he became ceo in 2011. he owns 900,000 shares of penney stock.. but it only has value if penney stock climbs above $29 dollars. the stock closed last at $14. hedge fund manager bill ackman who has a major stake in jcp gave the stock a bit of a lift yesterday when he...
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Apr 4, 2013
04/13
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jc penney ceo ron johnson's pay package was severed by 96%, going from $50 million to $1.9 million, after the retailer faced continuing problems. and former wellpoint ceo angela braly received $20 million in compensation, despite resigning under pressure in august. a former goldman sachs trader faces up to 20 years in prison after pleading guilty to wire fraud. matthew taylor surrendered to the fbi wednesday. the cftc accused him in november 2012 of hiding an $8-billion position on a futures contract that cost goldman more than $118 million. his bond is set for $750,000. defense stocks are rallying in the face of sequestration. since march 1st, boeing's stock is up 9.6%. lockheed martin has gained 8.3%. northrop grumman and raytheon are both up 6%. analysts sense it's a relief rally considering defense stocks took a hit on sequestion deadline fears. thehill.com reports the real threat is in september, when budget cuts take effect. generic versions of blockbuster perscription drugs may be overpriced at some pharmacies. consumer reports sent secret shoppers into 200 pharamcies. they checked
jc penney ceo ron johnson's pay package was severed by 96%, going from $50 million to $1.9 million, after the retailer faced continuing problems. and former wellpoint ceo angela braly received $20 million in compensation, despite resigning under pressure in august. a former goldman sachs trader faces up to 20 years in prison after pleading guilty to wire fraud. matthew taylor surrendered to the fbi wednesday. the cftc accused him in november 2012 of hiding an $8-billion position on a futures...
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Apr 10, 2013
04/13
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after the break, the lone analyst on the street and we personally spoke to jc penney and it's the siren inside scoop and we we have the analyst who has details. that's coming up next. rb heller and the s&p crossing its new introo day all-time high and the highs of the morning right now. we're back at post 9 after this. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get s
after the break, the lone analyst on the street and we personally spoke to jc penney and it's the siren inside scoop and we we have the analyst who has details. that's coming up next. rb heller and the s&p crossing its new introo day all-time high and the highs of the morning right now. we're back at post 9 after this. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and...
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Apr 3, 2013
04/13
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johnson wasn't the only one at jc penney taking a hit. none of the others got bonuses and due to the company's financial results versus its goals. the ceo received 44% of its target cash, the proxy said and the other named executive officers received collectively 55% of their aggregate target cash compensation. johnson still lives in california, but jc penney is headquartered in texas and johnson showed $are 344,000 in the corporate use of the aircraft. he had no comment beyond what was in the proxy. you can see the johnson's $344,000 corporate jet usage is pretty usual for jc penney's use and it's below the amount that the ceo might owe the news as jc penney's ceo at his home in colorado. while jc penney and his sales weren't as troublesome as they've been under johnson and that's why that jet use has been a point of contention at least for some. david? >> thanks very much, courtney reagan. they are in early trading dropping offer the isn number this after the dow and s&p, she's the portfolio manager for the client private group. >> we w
johnson wasn't the only one at jc penney taking a hit. none of the others got bonuses and due to the company's financial results versus its goals. the ceo received 44% of its target cash, the proxy said and the other named executive officers received collectively 55% of their aggregate target cash compensation. johnson still lives in california, but jc penney is headquartered in texas and johnson showed $are 344,000 in the corporate use of the aircraft. he had no comment beyond what was in the...
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Apr 12, 2013
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jc penney hired blackstone group. we will be developing a strategy under the new ceo hike olman. >> tom donahue on squawk earlier this week addressed the urgent need for entitlement reform. >> we have to bend down the cost curve. if we don't do it in a dozen years it will need all our national revenue. the organizations in this town that are driving people to pretend this won't happen have to get out under their silver lining cloud and face up to the fact that we can fix this problem or we can leave it alone and let it destroy us. >> are you talking aarp? >> yes. >> president of aarp. good to see you. >> good to see you, joe. >> is there a way to do this? what's your suggestion if we don't change any type of age where you get retirement or if we don't do any means testing? just tax people enough to where we can afford the benefits as they are? >> well, i think the first thing we have to recognize is social security in and of itself shouldn't be part of the deficit discussion. it's a separate program. self finance. we
jc penney hired blackstone group. we will be developing a strategy under the new ceo hike olman. >> tom donahue on squawk earlier this week addressed the urgent need for entitlement reform. >> we have to bend down the cost curve. if we don't do it in a dozen years it will need all our national revenue. the organizations in this town that are driving people to pretend this won't happen have to get out under their silver lining cloud and face up to the fact that we can fix this...
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Apr 8, 2013
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. >> macy's and jc penney back in court today in the battle over martha stewart home goods. a month-along mediation effort appears to have failed. courtney reagan is in downtown manhattan and she's been following this thing from the opening gavel. courtney? >> reporter: that's true, david. here we are again at the new york state supreme court in the trial that pits martha stewart living between jc penney and macy's. this is a month after the parties separtjudge sent the parties into mediation. he only allotted three weeks for that trial and when that time ran out there were still arguments left to be heard. the judge is growing increasingly frustrated with all of the parties urging them multiple times to come to a settlement. you guys will be happier if you decide as business leaders how to work this out. if i make the decision inevitably someone will be unhappy. the judge did note in court thanking martha stewart for reaching out to macy's ceo. the two hadn't spoken since late 2011 to tell him about the jc penney deal and lundgren said even thinking about it made him sick t
. >> macy's and jc penney back in court today in the battle over martha stewart home goods. a month-along mediation effort appears to have failed. courtney reagan is in downtown manhattan and she's been following this thing from the opening gavel. courtney? >> reporter: that's true, david. here we are again at the new york state supreme court in the trial that pits martha stewart living between jc penney and macy's. this is a month after the parties separtjudge sent the parties into...
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Apr 15, 2013
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. >> when we come back, jc penney finally trapping that revolver. just how bad is the retailer's crash crunch. plus what a year it's been so far from netflix and it seems to permeate everything we do. btig's rich greenfield has been crunching numbers and he's been all over the story. take one more look at futures. a negative open here, but as jim said a lot of it resulting from what gold has done today. a lot more "squawk on the street" in a moment. just set your start and end price. and let it do its thing. wow, more fan mail. hey ray, my uncle wanted to say thanks for idea hub. o well tell him i said you're welcome. he loves how he can click on it and get specific actionable trade ideas with their probabilities throughout the day. yea, and these ideas are across the board -- bullish, bearish and neutral. i think you need a bigger desk, pal. another one? traders love our trading patterns, now with options patterns. what's not to love? they see what others are trading -- like the day's top 10 options trades by volume -- and get ideas! yea i have an
. >> when we come back, jc penney finally trapping that revolver. just how bad is the retailer's crash crunch. plus what a year it's been so far from netflix and it seems to permeate everything we do. btig's rich greenfield has been crunching numbers and he's been all over the story. take one more look at futures. a negative open here, but as jim said a lot of it resulting from what gold has done today. a lot more "squawk on the street" in a moment. just set your start and end...
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Apr 5, 2013
04/13
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macy's only down 58 cents and jc penney, by the way, it was a good day for jc penney and they got the home goods launch. >> yes. >> so i'll see you there. you're going to raise me? anything. >> are you not shopping this weekend? no. >> are you really? you're going all of the way down there? >> i'm giving the keynote to the business editors and writers? oh, very nice. >> that tyson's corner has a lot of shopping. >> that's where they have the jc penney wi-fi. >> there are not many stocks in the green on the s&p. >> i don't have any. >> devry, is this a day where you short the manpower and adps? they've been so hot. i'm not sure when it will go after manpower united states because that's the temporary employment way around the health care act. adp may be -- adp is a well-run company, and paychex was saying they need yield, so i don't know. let them come in and then take a look at the yields will tell the tale. >> last night your point on "mad money," we need to, in shakespearean terms, need to get rid of the xhifs. >> it doesn't need to be rest t restart restarted. talk about the issue
macy's only down 58 cents and jc penney, by the way, it was a good day for jc penney and they got the home goods launch. >> yes. >> so i'll see you there. you're going to raise me? anything. >> are you not shopping this weekend? no. >> are you really? you're going all of the way down there? >> i'm giving the keynote to the business editors and writers? oh, very nice. >> that tyson's corner has a lot of shopping. >> that's where they have the jc penney...
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Apr 2, 2013
04/13
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you know, apple is becoming the jc penney of tech. they're going to hope that everything is key on joe fresh apple. >> they do say. you wonder why they keep the buy. >> they do say that they added it to the conviction buy in december of 2010 and since then apple is up 23% and s&p is up 26% and they're still feeling good and are they trying to keep the buy to take credit for any upside if they're wrong? conviction buy to buy. the i love you or you love me super duper buy. let's take it down to the i like you super buy. many of the firms did get rid of these absurd terms and just had buy, sell, hold. sell you still don't see very often and this is the watch cheeseburger versus cheeseburger and the deluxe. it's just marketing and nonsense, but as we point out many times, in these reports you do get a sense of sentiment and you do get the sense of real work getting done and real analytics and even some reporting by the analysts if you get there. i don't know that that's the case with this note. >> do you think apple is under siege or do y
you know, apple is becoming the jc penney of tech. they're going to hope that everything is key on joe fresh apple. >> they do say. you wonder why they keep the buy. >> they do say that they added it to the conviction buy in december of 2010 and since then apple is up 23% and s&p is up 26% and they're still feeling good and are they trying to keep the buy to take credit for any upside if they're wrong? conviction buy to buy. the i love you or you love me super duper buy. let's...
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Apr 2, 2013
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. >> yesterday on "squawk box" talking about jc penney. the they will roll out revamped home areas. they will highlight 50 new brands. it gives more of a mini mall feel. it has worked at bloomingdales and macy's shares down 60%. by the way, this format of all the mini stores within a store led to the whole battle with martha stewart and macy's. that's why she says it's okay to do that. her contract had that mini store thing. >> store within a store. >> is that a stand-alone store or not? >> toughy. comments, questions about anything you see on kwaubg, whether you think a store in a store counts. coming up next, nasdaq bob greifeld. "squawk" is back with bob after this break. >>> welcome back to "squawk box", everybody. u.s. auto majorers expect to report their best sales month in six years. march sales figures will be rolling out throughout the morning. edmunds.com forecasts that g.m. will have an 8.8% srufpl. and putting pilots through refresher training in june many they are planning to use the 787 initially for cargo jets to reassure the public that it is safe. >>> and new figure
. >> yesterday on "squawk box" talking about jc penney. the they will roll out revamped home areas. they will highlight 50 new brands. it gives more of a mini mall feel. it has worked at bloomingdales and macy's shares down 60%. by the way, this format of all the mini stores within a store led to the whole battle with martha stewart and macy's. that's why she says it's okay to do that. her contract had that mini store thing. >> store within a store. >> is that a...
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Apr 16, 2013
04/13
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. >> they're not a jc penney beneficiary and walmart is not very renewed in its tenacious way to take on target and underneath the dollar generals. i know people don't associate dollar tree and dollar general unless you've been to dollar tree and you realize what they're trying to do which is go after the target. and maybe target is getting squeezed by the cvss of the world and they're now doing food. remember target moved into food. >> it is an awfully big retailer and not the size of walmart and so people will be looking for a signal that is broader than simply target. you seem to be saying and when you listen to those numbers and perhaps it is more target centric than a broader indictment of retail. >> i don't think if terry lundgren were here from macy's -- >> he did not give a particular particularly doubtful -- >> by the way, target stock giving monthly guidance in march. let's stop giving preannouncements in april. if you did have the wrong mix. that trajectory is not what i want from my retailer. >> let's try to cover goldman and coke. 429 versus a 388 estimate. some were sayi
. >> they're not a jc penney beneficiary and walmart is not very renewed in its tenacious way to take on target and underneath the dollar generals. i know people don't associate dollar tree and dollar general unless you've been to dollar tree and you realize what they're trying to do which is go after the target. and maybe target is getting squeezed by the cvss of the world and they're now doing food. remember target moved into food. >> it is an awfully big retailer and not the size...